FINDLAY, Ohio (AP) _ Cooper Tire & Rubber Co. (CTB) on Monday reported fourth-quarter net income of $51.3 million, after reporting a loss in the same period a year earlier.
The Findlay, Ohio-based company said it had net income of $1.02 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The tire maker posted revenue of $750.2 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $741.7 million.
For the year, the company reported profit of $96.4 million, or $1.91 per share. Revenue was reported as $2.75 billion.
Cooper Tire shares have dropped roughly 7% since the beginning of the year. The stock has dropped 18% in the last 12 months.